The Impact of Local Government Environmental Target Constraints on the Performance of Heavy Pollution Industries

Xu, Hong; Lin, Kai; Qiu, Lei

doi:10.3390/su152215997

Cited by 3 publications

(1 citation statement)

References 49 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Green bonds focuse on long-term sustainable investments, so they become an important hedging tool against rare disasters (Guo and Zhou, 2021) [4], to give rise to sustainable development. With the cooperation of banks and enterprises, companies develop green technology innovations, assisting entrepreneurship and innovation [5,6], which can also give rise to high q sustainable development.…”

Section: Introductionmentioning

confidence: 99%

The Role of Green Finance in Promoting High Quality Economy: A Case Study of Yangtze River Economic Belt

Jun,

Chunyan

2024

Preprint

View full text Add to dashboard Cite

China has shifted into a stage of high-quality development, and there is a long way to achieve sustainable development. This article uses a coupling coordination degree model to quantitatively analyze green finance and high-quality development, two subsystems in Yangtze River Economic Belt in China, and measure the level of coordinated development between the two subsystems from 2012 to 2019. The following results were obtained: (1) green finance in the Yangtze River Economic Belt has promoted industrial green development, and high-quality economic development has significantly fed back green finance, achieving a Good Coordination Coupling between the two; (2) green finance plays an oriented role in green industrial layout and regional green technology innovation and entrepreneurship, and high-quality development helps financial institutions innovate green financial products; (3) green finance has a significant effect on high-quality economy of upstream regions to form a regional cooperation mechanism, and green industries develop rapidly, as their coupling coordination has increased the most dramatically since 2012. This article can provide policy recommendations for provincial governments in various regions, help identify favorable factors for coordinated development, and improve the role of some influencing factors in a targeted manner, thereby strengthening the role of green finance in regional green technology innovation and entrepreneurship, and ultimately achieving sustainable development.

show abstract

Section: Introductionmentioning

confidence: 99%

The Role of Green Finance in Promoting High Quality Economy: A Case Study of Yangtze River Economic Belt

Jun,

Chunyan

2024

Preprint

View full text Add to dashboard Cite

show abstract

Climate change, corporate risk-taking, and financialization: evidence from Chinese A-share non-financial listed companies

Zheng,

An,

Yang

2024

Environ Dev Sustain

View full text Add to dashboard Cite

Climate change-induced risks, such as global warming, can affect the economic development of entities and, consequently, the stability of financial markets. Businesses are progressively making the transition to green in order to lessen the negative consequences of climate threats. This study examines the relationship between corporate risk-taking (CRISK) and financialization (FIN) in light of climate change. The impact of business risk-taking on financialization is experimentally investigated through the transmission chain of “CRISK - enterprise value – FIN” using a fixed-effects model. The study also analyzes the moderating effect of climate change on the direct and indirect channels of climate change by using “temperature” and “investors’ concern about climate,” respectively. In addition, the empirical results are tested for robustness using propensity score matching and an instrumental variable method. This study’s findings reveal the following key insights. First, CRISK significantly enhances FIN by improving firm value. Second, enterprises with high financing constraints and manufacturing enterprises are more likely to have a positive correlation between CRISK and FIN. Third, the relationship between CRISK and FIN is enhanced by the direct transmission channel of increasing climate risk, but the indirect transmission channel is not significant. This study proposes policy recommendations to address the effect of climate risk on CRISK and FIN. Among these suggestions are the prudent distribution of financial resources among enterprises according to their level of risk-taking and the reinforcement of regulatory authorities’ financial oversight of businesses with high financing constraints and the manufacturing sector. By implementing these policies, companies can better manage climate-related risks and contribute to financial stability.

show abstract

Effective Government and Regional Technological Innovation: Evidence From 284 Cities in China

Fan,

Liang

2024

Regulation & Governance

View full text Add to dashboard Cite

Based on the exogenous shock of incorporating environmental performance into local officials' evaluations, this paper manually collects and collates publicly available data on environmental target constraints (constraints on government environmental indicators for the coming period) from city government work reports as well as panel data from 284 cities in China from 2003 to 2018, and adopts the DID model to explore the impact of local government environmental target constraints on technological innovation after the implementation of the environmental target responsibility system. Our analysis reveals the following key aspects. First, local government environmental target constraints can significantly enhance the quantity of technological innovation, and the conclusion is robust and reliable. Second, the mechanism test shows that local government environmental target constraints can significantly increase the probability of local governments setting soft constraints on economic growth targets, increasing local investment in science and education, and improving the intensity of environmental regulation to promote regional technological innovation. Third, local government environmental target constraints can more effectively promote technological innovation in cities with low fiscal pressure, weak local government competition, and higher level of economic development. Further analysis finds that the autonomous constraint on the environmental target of local government can promote effectively green substantive innovation. This research highlights the crucial role of environmental policy in influencing sustainable technological progress by demonstrating how local government environmental target constraints can act as a stimulus for technological innovation, especially green innovation.

show abstract

The Impact of Local Government Environmental Target Constraints on the Performance of Heavy Pollution Industries

Cited by 3 publications

References 49 publications

The Role of Green Finance in Promoting High Quality Economy: A Case Study of Yangtze River Economic Belt

The Role of Green Finance in Promoting High Quality Economy: A Case Study of Yangtze River Economic Belt

Climate change, corporate risk-taking, and financialization: evidence from Chinese A-share non-financial listed companies

Effective Government and Regional Technological Innovation: Evidence From 284 Cities in China

Contact Info

Product

Resources

About